Question : A sum was lent at simple interest at a certain rate of 2 years. Had it been lent at a 3% higher rate, it would have fetched Rs. 300 more. The original sum of money was:
Option 1: Rs. 5000
Option 2: Rs. 6000
Option 3: Rs. 7000
Option 4: Rs. 4000
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Correct Answer: Rs. 5000
Solution : Given: A sum was lent at simple interest at a certain rate of 2 years. Had it been lent at a 3% higher rate, it would have fetched 300 more. We know, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ Let the rate be $R$% and the increased rate be $(R+3)$%. So, $\frac{P\times (R+3) \times 2}{100}-\frac{P \times R \times 2}{100}= 300$ ⇒ $\frac{P \times 2}{100}×(R+3-R) = 300$ ⇒ $\frac{P\times 2\times 3}{100} = 300$ $\therefore P =$ Rs. 5000 Hence, the correct answer is Rs. 5000.
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Question : A person lent a certain sum of money at the annual rate of 20 percent on simple interest. In 10 years, the interest amounted to Rs. 800 more than the sum lent. What is the sum lent?
Option 1: Rs. 800
Option 2: Rs. 500
Option 3: Rs. 1200
Option 4: Rs. 400
Question : A person lent a certain sum of money at the annual rate of 5 percent on simple interest. In 4 years, the interest amounted to Rs. 800. What is the sum lent?
Option 1: Rs. 4,000
Option 2: Rs. 2,000
Option 3: Rs. 1,600
Option 4: Rs. 3,200
Question : A person lends a certain sum of money at the rate of 6% per annum on simple interest and the interest received in 13 years is Rs. 220 less than the sum lent. What is the sum lent?
Option 1: Rs. 1000
Option 2: Rs. 600
Option 3: Rs. 800
Option 4: Rs. 1200
Question : A sum fetched a simple interest of Rs. 3360 at a rate of 6% per year in 7 years. Find the sum.
Option 1: Rs. 8000
Option 2: Rs. 9500
Option 3: Rs. 7500
Option 4: Rs. 6000
Question : A sum was invested on simple interest at a certain rate for 2 years. If the interest rate is increased by 4%, then the interest increases by Rs. 160. What is the sum (in Rs.) invested?
Option 1: 2000
Option 2: 3000
Option 3: 3500
Option 4: 4000
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